The chairman of a US Congressional oversight committee is pressing the New York branch of the Federal Reserve to disclose further details of its arrangement with BlackRock to manage $30bn (â¬19bn) in assets on its behalf as part of JP MorganâÂÂs purchase of Bear Stearns, the first stage of which was completed today.
Henry Waxman, chairman of the US House of Representatives committee on oversight and government reform, in a letter asked the New York Fed to provide all documents related to the arrangement.
